The Trump administration plans to issue a request for information (RFI) regarding a Department of Labor final rule currently on hold that would raise the annual salary threshold for employee exemption from overtime pay. Testifying before the House Committee on Appropriations last week, Labor Secretary Alexander Acosta said the proposed RFI would seek public comment regarding the economic or anticipated impact of raising the annual salary requirement for overtime exemption from the current $23,660 to $47,476, as the previous administration had proposed. The Obama administration issued...
The House of Representatives last week passed sweeping legislation that would repeal or modify consumer protection provisions of the Obama-era Dodd-Frank Act, including an overhaul of the Consumer Financial Protection Bureau’s structure and authority as well as changes to the rulemaking process followed by the CFPB and federal banking agencies. The House approved H.R. 10, the Financial Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs (CHOICE) Act, on June 8 by a vote of 233-186, along party lines. The bill was sent to the Senate, where Republicans enjoy a narrow majority and would have to win over some Democrats to get the bill through. Under the Republican bill, the CFPB would be renamed...
Last month, Federal Housing Finance Agency Director Mel Watt said he’s prepared to allow Fannie and Freddie to build some type of capital buffer to avoid a Treasury draw…
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